Cryptocurrency Q&A
How to pull Fibonacci?
How to pull Fibonacci?
BonsaiVitality
Mon Nov 04 2024
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7 answers
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I'm trying to figure out how to generate a Fibonacci sequence. I've heard about this famous series before, but I'm not sure how to actually produce it. Can someone explain the steps or provide a method for pulling Fibonacci numbers?
7 answers
DongdaemunTrendsetter
Wed Nov 06 2024
Drawing Fibonacci retracement levels is a popular technical analysis tool used by traders.
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BitcoinBaron
Wed Nov 06 2024
The first step in drawing Fibonacci retracement levels is to identify the direction of the market. It is crucial to confirm whether the market is in an uptrend or a downtrend.
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KDramaLegendaryStarlight
Wed Nov 06 2024
Once the market direction is confirmed, the next step is to place the Fibonacci retracement tool on the chart. This is done by starting at the bottom of the recent trend and dragging the tool to the peak.
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Lucia
Wed Nov 06 2024
The Fibonacci retracement tool will then draw horizontal lines at specific levels, indicating potential support and resistance areas.
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CosmicDream
Tue Nov 05 2024
These levels are based on the Fibonacci sequence, which is a series of numbers where each number is the sum of the two preceding ones. The most commonly used Fibonacci retracement levels are 0.236, 0.382, and 0.611.
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